A bill to limit the collection of annual premiums under the FHA program for mortgage insurance for single family housing, and for other purposes.
FHA Loan Affordability Act of 2019
This bill requires Federal Housing Administration mortgage borrowers to pay mortgage insurance premiums only when their remaining principal balance exceeds 78% or more of the home value or sales price.
Placed on the Union Calendar, Calendar No. 227.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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